As Scott and Ron made clear. "Rent to Own" is structured to exploit those thinking they can circumvent the immediate need to fix their credit issue and protect the owner of the home. Overwhelmingly, the 'renter' exits the situation much poorer than when they entered. These are the 'advertised' rent to owns you see frequently.
An exception does exist. Multi-dimensional real estate professionals can match a buyers situation to a sellers needs. This REQUIRES you to commit to the real estate professional. They will be investing time and resources in creating or finding this situation for you. If you are unwilling to sign a commitment, a professional will not work with you. This commitment will require:
1. Credit repair plan with a recommended lender oversight
2. Timeline for when purchase will be possible
3. Scheduled savings plan
4. Current savings
6. Any involvement in lender rebates will DISQUALIFY you.
This will take time, commitment and patience.
If you have what it takes, find the pro with the resources. Otherwise, contact a local lender and start your credit repair strategy without engaging a predatory home purchase scheme.
Go to: http://www.BankingGrades.com
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL